Most expensive cities to buy property: Guess which takes the top spot

Property rates in these cities are so high that even the most elite would think twice before buying a home here.

Buying a home is something everyone aspires to do and it's a well known fact that property does not come cheap. Factors such as scarcity of land and exclusivity raise the price of any property. Here is a list of cities where around USD 1 million or Rs 6.5 crore will fetch you not more than a 500-sq ft home. Yes you read that right. Read on to find out which are these super expensive cities. (Image: Reuters)

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10. Shanghai | In this Chinese city, USD 1 million will buy you just 497.3 square feet worth of property.Picture: Reuters

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9. Moscow | USD 1 million would fetch you around 462.84 sq ft of prime property in the Russian capital. An apartment in the uptown district of Moscow will cost you USD 2.2 million. (Image: Reuters)

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8. Paris | The city of love takes the 8th spot on the list as anyone looking to buy a home here would get around 448.85 sq ft of property for USD 1 million. (Image: Reuters)

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7. Sydney | If you have a million dollars and want to buy prime property in the Australian city, you would get one just about a little over 443 sq ft worth of space. (Image: Reuters)

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6. New York City | In the city that never sleeps you can buy around 432.70 square feet of property for USD 1 million. (Image: Reuters)

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5. Geneva | Fifth on the list is Geneva where one can get 373.50 sq ft worth of property for USD 1 million. One can be assured of a scenic view of Lake Geneva the alps and/or UNESCO protected vineyards. (Image: Reuters)

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4. Singapore | Space comes truly at a premium in Singapore, where USD 1 million will only net you a property as large as 350.90 sq ft. (Image: Reuters)

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3. London | One of the key financial hubs in the world also comes with a hefty real estate price tag. With as much as USD 1 million, one would get a mere 271.25 square feet property here. (Image: Reuters)

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2. Hong Kong | A tiny apartment in this city comes at a notoriously high price. Prospective buyers will get just 221.73 sq ft of space for USD 1 million. (Image: Reuters)

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1. Monaco | The most expensive city in the world for property is the city-state of Monaco, where a buyer would get mere 150 sq ft of space for USD 1 million. And it'll cost rather more to buy a flat in Tour Odéon (pictured), the tallest building in Monaco. You need to submit an application even before just to know the price of an apartment here. (Image: Reuters)